As the German company searches for fresh development avenues beyond its Samba and Gazelle trainers, investors and experts believe that Adidas’s ability to lure more American consumers away from market leader Nike will be crucial to its ongoing success this year.
Since Adidas severed its relationship with rapper Ye and discontinued its popular Yeezy footwear line in October 2022, CEO Bjorn Gulden has been instrumental in turning the company around. Since his appointment was announced the following month, Adidas shares have increased by 160 per cent.
According to GlobalData, Nike’s market share in the global sportswear industry dropped from 15.2 per cent in 2023 to 14.1 per cent last year. Adidas’ market share grew from 8.2 per cent to 8.9 per cent, while Hoka, On Running, and New Balance also saw increases.
Nike’s sales decreased 9 per cent in the most recent quarter, which ended on 30th November of last year, whereas Adidas’ revenues increased 19 per cent in the quarter ending December 31 and 12 per cent overall over 2024.
Targeting American consumers, Adidas recently unveiled a new Superstar 92 sneaker with American artist and designer Pharrell Williams and an apparel and shoe partnership with Los Angeles-based brand Sporty & Rich that it claimed was inspired by ‘collegiate Americana’.
